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BUSINESS & TECH

Shareholder Dumps ZTE Stock

“Price-wise, when (shares) are suspended all bets are off,” said one analyst. Photo: VCG
“Price-wise, when (shares) are suspended all bets are off,” said one analyst. Photo: VCG

*Swiss brokerage UBS purchased 2.65 million ZTE shares at an average cost of $2 per share, boosting its stake in the company to 5.32% from a previous 4.97%

*The selling price was about 38% below ZTE’s last trading price before the trading suspension was announced on April 17

(Beijing) — A large shareholder of embattled telecoms equipment-maker ZTE Corp. sold a big block of shares at a nearly 40% discount to their last trading price, according to a new stock exchange filing, providing an indication of where the stock may be valued when trading resumes.

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